{"schema_version":1,"publisher":"Half on a Double","data_through":"2026-10-16","frequency":"end-of-day","methodology":"market-implied-carry-v1","generation":"market-implied-carry-analytics-20260917T000000Z","canonical_url":"https://halfonadouble.com/stock/M","markdown_url":"https://halfonadouble.com/stock/M.md","history_url":"https://halfonadouble.com/api/v1/history/M.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/M.json?date=2026-10-16&public_schema=4","definitions_url":"https://halfonadouble.com/methodology.md","license_url":"https://halfonadouble.com/terms.md","disclaimer_url":"https://halfonadouble.com/disclaimer.md","symbol":"M","page_tier":"A","units":{"prices":"USD per share","open_interest":"option contracts","gamma_exposure":"modeled dollar-delta change per USD 1 underlying move","gamma_exposure_normalized":"modeled gamma exposure per 100,000 open option contracts","distances":"percent of close","forward_outcomes":"close-to-close percent return"},"snapshot":{"close":24,"previous_close":24.219999313354492,"delta_neutral":20.491800819063318,"gamma_neutral":17.502280484116426,"gamma_max":24.224621541704256,"total_open_interest":124398,"previous_open_interest":148567,"listed_contracts":367,"listed_calls":234,"listed_puts":193,"gamma_max_distance_pct":0.9359230904343985,"delta_neutral_distance_pct":-14.617496587236175,"gamma_neutral_distance_pct":-27.073831316181558,"open_interest_change_1d_pct":-16.26808106780106,"call_open_interest":72171,"put_open_interest":52227,"put_call_open_interest_ratio":0.7236563162489088,"nearest_expiration_max_pain":22,"nearest_expiration_max_pain_expiry":"2026-10-23","nearest_expiration_max_pain_distance_pct":-8.333333333333332,"all_expiration_max_pain":21.5,"net_gamma_exposure":7075195.385592515,"net_gamma_exposure_per_100k_open_interest":5687547.537414199,"gamma_exposure_flip":17.502280484116426,"gamma_exposure_flip_distance_pct":-27.073831316181558,"call_wall":23,"call_wall_distance_pct":-4.166666666666666,"put_wall":21,"put_wall_distance_pct":-12.5,"gamma_max_cross_direction":"below","delta_neutral_cross_direction":null,"open_interest_rank":531},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-16","session_count":1404,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":5.158730158730158,"gamma_max_cross_count":18,"delta_neutral_cross_count":14,"gamma_max_prior_sessions_closer_pct":4.365079365079365,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":98.4126984126984,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":10.317460317460316,"open_interest_change_1d_contracts":-24169,"open_interest_change_z_252":-1.6296783624715052,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":-4.645904077143011,"open_interest_change_21_sessions_pct":-31.782512132927533,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-15238,"put_change_contracts":-8931,"call_growth_pct":-17.43298744980494,"put_growth_pct":-14.60315903070735,"call_minus_put_growth_pp":-2.8298284190975913},"five_sessions":{"call_change_contracts":-2435,"put_change_contracts":-3626,"call_growth_pct":-3.2638125619923333,"put_growth_pct":-6.492041609224214,"call_minus_put_growth_pp":3.2282290472318804},"call_change_surprise":{"z_score":-2.0189425977034055,"comparison_sessions":252},"put_change_surprise":{"z_score":-1.0745564500245153,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-0.5834665033636188,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":55.07936604845389,"directional_score":-27.166563816371973,"catalyst_reasons":["25Δ risk reversal 95.2 pp","IV rank 100","volume/OI 0.08"],"features":{"price":24,"totalOi":150583,"analysisCoverage":1,"avgIvPct":307.6,"ivRank":100,"iv52wHighPct":307.6,"iv52wLowPct":59,"frontDte":7,"termPremiumPp":-1.4202,"riskReversalFrontPp":95.17,"riskReversal30dPp":5.19,"butterflyFrontPp":0.74,"butterfly30dPp":-0.49,"putCallOiRatio":0.701,"putCallOiFrontRatio":0.28,"putCallVolumeFrontRatio":0.748,"optionVolume":11843,"volumeOiRatio":0.078648,"netDeltaNormalized":0.244953,"dealerDeltaNormalized":-0.228441,"gexPer100kOi":3416631.83095,"vannaPer100kOi":755.729398,"charmPer100kOi":-424029.272893,"weekendDeltaShiftPer100kOi":-1272087.154592,"ivSurfaceRangePp":139.3,"gammaFlipDistancePct":-4.833333,"maxPainDistancePct":-8.333333,"peakCallDistancePct":2.083333,"peakPutDistancePct":0},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/M.json?date=2026-10-16&public_schema=4","interpretation":"Catalyst intensity ranks unusual option pricing and activity; it does not identify the event, predict direction or recommend a trade. Directional score summarizes relative positioning under documented model conventions."},"gamma_max_cross_outcomes":[{"direction":"above","event_count":36,"completed_path_count":34,"latest_cross_date":"2026-10-15","horizons":[{"sessions":1,"sample_size":36,"median_return_pct":-0.17036164455254132,"p25_return_pct":-2.889602810320302,"p75_return_pct":2.081303123190753,"above_zero_pct":47.22222222222222,"median_interval_low_pct":-1.2864461448819475,"median_interval_high_pct":1.1428581489311362,"median_interval_nominal_coverage_pct":93.47546647768468,"confidence_floor_pct":0},{"sessions":3,"sample_size":35,"median_return_pct":0.5684029153018466,"p25_return_pct":-3.5878225527581575,"p75_return_pct":4.176927610143332,"above_zero_pct":51.42857142857142,"median_interval_low_pct":-1.3722114022807652,"median_interval_high_pct":2.1596854023104406,"median_interval_nominal_coverage_pct":91.04689210653305,"confidence_floor_pct":0},{"sessions":5,"sample_size":34,"median_return_pct":-0.45890805976132043,"p25_return_pct":-3.288426718421747,"p75_return_pct":3.489754513978788,"above_zero_pct":44.11764705882353,"median_interval_low_pct":-2.421465261944322,"median_interval_high_pct":1.3787516410855405,"median_interval_nominal_coverage_pct":94.23873270861804,"confidence_floor_pct":0},{"sessions":10,"sample_size":34,"median_return_pct":-0.18342332682946827,"p25_return_pct":-4.021592910805181,"p75_return_pct":4.542310527237864,"above_zero_pct":50,"median_interval_low_pct":-2.7621898469618156,"median_interval_high_pct":3.293582643972859,"median_interval_nominal_coverage_pct":94.23873270861804,"confidence_floor_pct":0}]},{"direction":"below","event_count":32,"completed_path_count":30,"latest_cross_date":"2026-10-16","horizons":[{"sessions":1,"sample_size":31,"median_return_pct":0.5899614726846414,"p25_return_pct":-0.33783961432491405,"p75_return_pct":3.2304564172016104,"above_zero_pct":67.74193548387096,"median_interval_low_pct":0.18381896947601284,"median_interval_high_pct":2.6160291642449263,"median_interval_nominal_coverage_pct":92.92444540187716,"confidence_floor_pct":0.18381896947601284},{"sessions":3,"sample_size":30,"median_return_pct":0.48990851634252985,"p25_return_pct":-0.9918379166164282,"p75_return_pct":3.829856919072283,"above_zero_pct":63.33333333333333,"median_interval_low_pct":-0.42289902971549553,"median_interval_high_pct":2.1650025077895485,"median_interval_nominal_coverage_pct":90.1262853294611,"confidence_floor_pct":0},{"sessions":5,"sample_size":30,"median_return_pct":1.7091290774685297,"p25_return_pct":-2.296147927469155,"p75_return_pct":4.046430190002903,"above_zero_pct":63.33333333333333,"median_interval_low_pct":-0.15432451932717584,"median_interval_high_pct":2.56410702280363,"median_interval_nominal_coverage_pct":90.1262853294611,"confidence_floor_pct":0},{"sessions":10,"sample_size":30,"median_return_pct":0.42533583026986843,"p25_return_pct":-4.701961508193197,"p75_return_pct":7.429603793449774,"above_zero_pct":50,"median_interval_low_pct":-3.846150319251662,"median_interval_high_pct":3.7606830547227688,"median_interval_nominal_coverage_pct":90.1262853294611,"confidence_floor_pct":0}]}],"missing_value_semantics":"null means unavailable; it never means zero","interpretation":"These are descriptive end-of-day model outputs. Signed GEX uses the published call-positive, put-negative convention and is not observed dealer inventory. None of the fields are live prices, predictions or investment advice."}